It used to take two weeks for a team of six bankers to do the same task, Goldman Sachs CEO David Solomon said.

NEW YORK (Reuters) - Goldman Sachs raised CEO David Solomon's compensation 26% to $39 million for last year, according to a filing, and its board lined up an $80 million stock retention bonus that signals he will stay at the helm for another 5 years.

The ways AI is changing the work of bankers and analysts just got clearer at the Wall Street bank.

Goldman Sachs' CEO David Solomon said AI can write 95 per cent of an IPO prospectus accurately, and people are now required for the last 5 per cent of the report.